City grants incentives to 3 big projects

The Davao City Investment Incentive Board led by Vice Mayor Sara Duterte granted yesterday the application of three projects for local government incentives.

The projects are all property development, namely:

Abreeza, the Ayala Mall in Davao, a joint venture between Ayala Land and the Floirendo Group, and with a project cost of P2.4 billion;

Santiago Villas of Kisan Lu Realty, Inc. with a project cost of P253 million; and

Deca Homes Resort and Residences of 8890 Housing Development Corporation with a project of P586 million.

They were granted exemption from payment of local taxes, building permits fees and other charges for three years and property taxes for two years.

Projects processed by the local Investment Incentive Board for this year have already reached P4.1 billion, way above its goal.